Supreme Court of Arkansas February 27, 1950, 4-9065 (Johnson v. Lion Oil Co.)

George Rose Smith, J.

In April, 1947, A. B. Turner and Walter Keith owned the leasehold interest in oil and gas leases upon 120 acres of land. They made an oral contract with the appellants, Johnson and Stewart, by which the appellants agreed to drill oil wells on the property in return for a half interest in the leasehold estate.